In this paper the innovation model of new financial services development is presented. The model discusses the success of new financial services development and the connection between success, development process and influencing factors: the marketing synergy, quality of services, market characteristics, organizational culture and knowledge. The success of new financial services is measured by financial and marketing success factors. The results of the study based on a sample of financial institutions in Slovenia show that launching is the stage in development process with the most important influence on service success. The most important success factor is market characteristics. The organizational culture, knowledge and marketing synergy are also important factors of the innovation model and for the success of new financial services.